BT Group third quarter
The BT Group has published its latest set of financial results, which cover the nine months up to the 31st December 2009.
Ian Livingston, Chief Executive, commented, “These results show that we are making progress. There is still a lot more to be done but our commitment to improved customer service and cost transformation is starting to deliver results and freeing up resources to invest in our future. In particular, we are one of Europe’s largest investors in super-fast fibre-based broadband and this will bring huge benefits to our customers and the UK.”
The various parts of the BT Group that most directly affect broadband being Openreach, Wholesale and Retail all appear to have had a tough time, or as the results suggest ‘challenging market conditions’, overall group revenue was down some 4%.
BT Retail saw the trend of reducing calls and line revenue continue, some of this probably from people switching to other call providers and line rental deals, but another factor is the increasing amount of fixed cost call packages available. BT Vision had some 451,000 customers at the end of December 2009, and the results highlight the Project Canvas project as well as the possibility of wholesale access to Sky Sports and Movies which may boost the customer numbers for BT Vision. Retail had 102,000 net additions in the quarter taking its number of broadband customers to over 5 million.